Tag Archives: empty

UT President’s Home Unsold, Even at $2.5M Bargain Price

The Knoxville house that five former University of Tennessee presidents called home has sat empty for more than two years since being put up for sale in March, 2010, reports the News Sentinel.
The listing price of the 11,400-square-foot house was cut nearly in half a year after the property was put on the market — from the original $5 million asking price to the current $2.9 million price tag.
The home is on the list for discussion during the University of Tennessee’s Board of Trustees Finance and Administration Committee meeting at 3:30 p.m. June 20 in the Hollingsworth Auditorium on the Agricultural campus. The full board’s meeting will take place the following afternoon at 1:30 p.m.
…The university spends $25,000 annually to maintain the home and its three-acre waterfront property.
Stafford said the university will continue to maintain the house and “any further determinations will depend on discussion by the committee.”
Real estate agent Jim Ford, with Coldwell Banker Wallace & Wallace, said he has shown the house to 24 interested “lookers” — most of whom were local to Knoxville — since the house went on the market. He has had two offers in the past two or three months, neither of which the university accepted.